Pasithea Therapeutics (NASDAQ:KTTA) Upgraded to “Hold” at Zacks Research

Pasithea Therapeutics (NASDAQ:KTTA) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

KTTA has been the subject of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $3.00 price target on shares of Pasithea Therapeutics in a report on Monday, April 20th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pasithea Therapeutics in a report on Friday, March 27th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $3.00.

Pasithea Therapeutics Stock Down 9.8%

Shares of KTTA opened at $0.65 on Monday. Pasithea Therapeutics has a 52 week low of $0.28 and a 52 week high of $2.06. The company has a market capitalization of $16.09 million, a price-to-earnings ratio of -0.31 and a beta of 0.25. The stock’s 50-day moving average price is $0.74 and its 200-day moving average price is $0.85.

Pasithea Therapeutics (NASDAQ:KTTA) last issued its earnings results on Friday, May 15th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.33. As a group, equities analysts anticipate that Pasithea Therapeutics will post -0.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Pasithea Therapeutics

Large investors have recently bought and sold shares of the business. Two Sigma Investments LP acquired a new position in Pasithea Therapeutics in the 3rd quarter worth about $26,000. Citadel Advisors LLC raised its holdings in Pasithea Therapeutics by 43.7% in the 3rd quarter. Citadel Advisors LLC now owns 67,341 shares of the company’s stock worth $48,000 after purchasing an additional 20,483 shares during the period. Renaissance Technologies LLC acquired a new position in Pasithea Therapeutics in the 1st quarter worth about $69,000. Geode Capital Management LLC raised its holdings in shares of Pasithea Therapeutics by 113.9% during the fourth quarter. Geode Capital Management LLC now owns 54,495 shares of the company’s stock valued at $70,000 after acquiring an additional 29,020 shares during the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of Pasithea Therapeutics by 137.0% during the fourth quarter. Jane Street Group LLC now owns 59,372 shares of the company’s stock valued at $77,000 after acquiring an additional 34,319 shares during the last quarter. Institutional investors and hedge funds own 23.92% of the company’s stock.

Pasithea Therapeutics Company Profile

Pasithea Therapeutics, Inc (NASDAQ: KTTA) is a clinical?stage biopharmaceutical company focused on the discovery, development and eventual commercialization of engineered antibody therapeutics for immunological diseases. Leveraging a proprietary discovery engine that integrates advanced computational biology, high-throughput screening and structural analysis, the company aims to identify and generate novel therapeutic molecules that modulate key immune pathways.

The company’s pipeline consists of multiple preclinical and early clinical candidates targeting autoimmune and inflammatory disorders.